Friday, September 19, 2008

Sen. John McCain (R-Ariz.) scored 0 percent in 2007 (24 percent lifetime) due to missing all 15 votes scored...



...including the key vote on repealing tax giveaways to big oil – a measure that failed by only one vote.

McCain Supports Tax Breaks For Oil Industry -- But Not For Wind Power (click here)
By Greg Sargent- August 12, 2008, 2:55PM
Here's something else that could create political complications for John McCain in key swing states as he continues to defend measures that would maintain tax breaks for the oil industry: He recently opposed extending tax breaks for the wind-power industry.
Making this more difficult for McCain, the fledgling wind-power industry is popular in key upper Midwest and central plains states -- and here you have McCain protecting such tax breaks for Big Oil, but opposing them for Big Wind, or, if you prefer, Little Wind.
McCain recently opposed the big $300 billion farm bill, which itself is extremely popular throughout the upper midwest, describing the bill as "a $300 billion, bloated, pork-barrel-laden bill" because of subsidies for industries like ethanol.
But in a little-noticed development, the bill also contained a measure extending a tax break for developing wind power, which McCain specifically opposed. Obama backed it. According to Senator Tom Harkin, an Obama ally, the wind energy industry is employing close to 2,000 people, some concentrated in those key swing states. It's little local issues like these that can move votes in states where the voting is expected to be extremely close....

Is the responsiblity of the Executive Branch to STOP catastrophe?


Beginning with The China Spy Plane Incident, followed by September 11, 2001 and through his entire administration, including Katrina, this Executive Branch did nothing to prevent disaster. The current financial crisis is another example of "The Same Old Mistakes."

Is it such a surprise that Ron Paul realized the extreme circumstances facing the USA under this administration? No. You had to be profoundly out of touch with reality not to see this coming. No needed a crystal ball to predict what was to come for the financial markets. What does that say about Paulson as well?

Ron Paul saw this financial mess coming (click here)
It's not like there wasn't anybody who saw the economic woes of the week on the horizon.On Sept. 10, 2003, U.S. Rep. Ron Paul, R-Texas,
testified before House Financial Services Committee, which was holding hearings regarding special privileges extended to government sponsored enterprises (GSEs). Think Fannie Mae and Freddie Mac. In his testimony. Paul criticized such privileges in general and warned of the potential for disaster posed by government involvement with Fannie and Freddie specifically. Paul noted that according to the Congressional Budget Office, housing related GSEs received $13.6 billion in indirect federal subsidies in fiscal 2000 and had a line of credit with the United States Treasury exceeding $2 billion. That line of credit Paul said was an explicit promise by the Treasury to bail out GSE's in times of economic difficulty. (Sound familiar?)